Real and fake products mix up in art collection market
Chinanews, Beijing, Oct. 22 – The art collection market in China has remained active for years. At present, there are over 7,000 art collectors in China and art transaction volume reaches nearly 20 billion yuan. As more and more people jump into the market transaction volume keeps increasing. In face of the booming market, experts warn that both real and fake products can be found in the current market and collectors should be cautious when buying a new product.At a treasure authenticating fair in Beijing, our reporter saw many art collectors come to the fair from around the country. They presented their art pieces to the experts, but for more often than not they were disappointed because the experts would tell them that they were fakes. This is not surprising, for in China, there are many such collectors who spend a large sum of money buying a fake product.
Wang Lijun, deputy director of the China Art Appraising Committee under the Ministry of Culture, told the reporter that once when they were in Wuhan, about 3,000 - 4,000 people came to the treasure authenticating fair. They worked from 7 in the morning until 7 in the evening, and 99% of the “treasures” they appraised were fake products. In Zhejiang and Shandong, they encountered similar situations.
When ordinary art transaction markets are full of fake products, high-class auction fairs are no better, either. In fact, the number of lawsuits arising from the producing, selling or auctioning of fake products has risen over the years. Some auction companies cheat collectors in collusion with the suppliers, and as a result, many fake products flow into the market. This greatly damages the reputation of the auction market in China. In recent years, some people buy fake products from overseas market, then bring them back and sell them at high prices in domestic market. Many collectors are taken in.
Wang said he happened to be asked to appraise a copper incense burner yesterday. According to the collector, he bought it in France and was told that the incense burner was of 40% of gold and 30% of silver. When asked how much he paid for it, the collector said he paid several hundred thousand US dollars. Then Wang told him it was a fake through and through.